“I have moved to Texas,” Tesla CEO Elon Musk confirmed on Tuesday, speaking in a live interview with The Wall Street Journal.
The admission comes after weeks of speculation as to whether or not Musk would be the latest in a long line of California citizens that defect from the state in favor of Texas’ lower regulations and lower taxes. In fact, Texas has no personal income tax, while California imposes the highest personal income taxes on the rich out of any state in the country, Bloomberg noted.
Musk slammed California in his Journal interview, stating: “If a team has been winning for too long they do tend to get a little complacent, a little entitled and then they don’t win the championship anymore. California’s been winning for a long time. And I think they’re taking them for granted a little bit.”
“Silicon Valley, or the Bay Area, has too much influence on the world, in my opinion. The Bay Area has outsized influence on the world,” he continued, making the most sense we’ve heard from Musk in years.
Musk’s tenure in California lasted two decades, and (for the time being) SpaceX and Tesla still have their headquarters in the state. Musk will likely continue to bounce back and forth between states using his private (non-electric) Gulfstream G650 private jet. In addition, he will likely continue making “frequent international trips to Berlin and China,” where Tesla is expanding.
We brought up speculation that Musk may make the move earlier this month. Prior to that, back in May, amid reports that he was considering the Lone Star State for the location of his next Gigafactory, we asked whether or not Tesla CEO Elon Musk might move to Texas permanently.
SN 5 & 6 at Starship Production Complex in Texas pic.twitter.com/8BVRD5VdU7
— Elon Musk (@elonmusk) August 11, 2020
Previously we also covered Musk’s spat with California over Tesla’s operations back in May when the CEO referred to the state as “fascist”. It was then when Musk said he had decided that Texas would be the location of his company’s next Gigafactory.
Frankly, this is the final straw. Tesla will now move its HQ and future programs to Texas/Nevada immediately. If we even retain Fremont manufacturing activity at all, it will be dependen on how Tesla is treated in the future. Tesla is the last carmaker left in CA.
— Elon Musk (@elonmusk) May 9, 2020
We also noted late last month that Musk had now become the second richest person in the world, with a net worth that grew by more than $100 billion this year alone.